Corzine to make N.J. gubernatorial bid

Report: Democratic senator has informed party leaders

By

WilliamL. Watts

WASHINGTON (CBS.MW) -- A key voice on economic policy for congressional Democrats is expected Thursday to announce he will run for governor in New Jersey.

Sen. Jon Corzine, 57, a freshman senator who spent $60 million of his investment-banking fortune on a successful 2000 campaign to represent the Garden State, has scheduled a news conference for Thursday afternoon in Newark to discuss his "political future," according to an advisory issued by his Senate office.

Corzine, a former CEO of investment bank Goldman Sachs, called New Jersey's 21 Democratic county chairmen Wednesday to tell them he will make the gubernatorial run, the Associated Press reported.

Corzine emerged as a spokesman for Senate Democrats on economic policy issues, including tax policy and the deficit. He was also viewed as a potential candidate for the post of Treasury secretary had Democratic challenger John Kerry unseated President Bush on Nov. 2.

Corzine is the first Democrat to throw his hat into the ring for the governorship. There has been intense speculation Corzine would run for governor ever since former Gov. James McGreevey announced in August that he had conducted an extramarital affair with another man and would step down. McGreevey left office last month, a year before New Jersey's gubernatorial election.

Corzine is expected to remain in his Senate seat during the gubernatorial bid. If he wins the election, Corzine would choose his own replacement. Seven Republicans are already competing for GOP gubernatorial nomination.

Republican candidates include Doug Forrester, a businessman who ran unsuccessfully in 2002 against Democrat Frank Lautenberg for the Senate, and former Jersey City Mayor Bret Schundler, whom McGreevey defeated in 2001.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.